Company Profile

Yamana Gold Inc. is a leading Canadian-based gold mining company with significant gold production, gold development stage properties, exploration properties, and land positions in Brazil, Argentina, Chile, Mexico and Central America. Yamana is producing gold and other precious metals at intermediate company production levels in addition to significant copper production. The company plans to continue to build on this base through existing operating mine expansions and throughput increases, the advancement of its exploration properties and by targeting other gold consolidation opportunities in Brazil, Argentina and elsewhere in the Americas.

2007 Highlights:

• Completed the acquisition of Meridian Gold and Northern Orion Resources for $4.8 billion
• Total production of approximately 1 million gold equivalent ounces for the year
• Industry low cash costs at $(182) per gold equivalent ounce
• Commercial production declared at Yamana’s original flagship operation, Chapada, in February 2007
• Record revenue, earnings, and cash flow, consistent with strategic plan
• Healthy cash position and short term investments at year end at approximately $330 million with net debt at $300M
• Secured a credit facility for up to $700 million 

2008 Highlights:

• Remained focused on prudent, disciplined growth
• Total production from all mines of approximately 1.0 million gold equivalent ounces (GEO includes gold and silver)
• Industry low cash costs at $383 per gold equivalent ounce
• Robust revenue, earnings, and cash flow, consistent with strategic plan
• Strong balance sheet - total cash and available credit of approximately $420 million and net debt of $385 million at year end
• Commenced operations at two new mines, Gualcamayo and São Vicente